@Italy:Economy
Economy - overview: Italy has a diversified industrial economy with approximately the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less developed agricultural south, with more than 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. For several years Italy has adopted budgets compliant with the requirements of the European Monetary Union (EMU); representatives of government, labor, and employers also agreed to an update of the 1993 "social pact," which has been widely credited with having brought Italy's inflation into conformity with EMU requirements. Italy must work to stimulate employment, promote wage flexibility, hold down the growth in pensions, and tackle the informal economy. Growth was 1.3% in 1999 and should edge up to 2.6% in 2000, led by investment and exports.
GDP: purchasing power parity - $1.212 trillion (1999 est.)
GDP - real growth rate: 1.3% (1999 est.)
GDP - per capita: purchasing power parity - $21,400 (1999 est.)
GDP - composition by sector: agriculture: 2.6% industry: 31.6% services: 65.8% (1998)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 2.9% highest 10%: 23.7% (1991)
Inflation rate (consumer prices): 1.7% (1999 est.)
Labor force: 23.193 million